In a development that’s shaking confidence on Wall Street and beyond, JP Morgan has sounded the alarm on a potential U.S. recession this year—largely driven by the newly announced tariffs by President Donald Trump. In a note to investors released Friday evening, Michael Feroli, the firm’s Chief U.S. Economist, warned that the American economy is…
The global trade landscape just got a major shake-up. In response to President Donald Trump’s sweeping new tariffs, the head of the World Trade Organization (WTO) has issued a stark warning: we could see global merchandise trade volumes contract by around 1% this year. The warning came on Thursday from WTO Director-General Ngozi Okonjo-Iweala, just…
The trade tensions between Canada and the United States have escalated once again, with Ottawa announcing a 25% tariff on tens of thousands of vehicles imported from the U.S. The move comes as a direct response to President Donald Trump’s sweeping tariff measures, which took effect on Thursday. Prime Minister Mark Carney confirmed the decision,…
A storm is brewing in Africa’s trade relations with the United States after President Donald Trump’s administration imposed steep tariffs on imports from several African nations. Among the hardest hit is the small kingdom of Lesotho, which now faces a 50% tariff— the highest imposed on any single country. Other nations, including Madagascar (47%), Mauritius…
In another legal setback for Donald Trump, the High Court in London has ordered the U.S. president to pay £625,000 ($741,000) in legal costs after his failed lawsuit against former British intelligence officer Christopher Steele. The case revolved around the controversial Steele dossier, a collection of explosive and unverified memos that alleged Trump had been…
Nearly a week after a devastating earthquake struck Myanmar, the death toll has climbed to 3,085, according to the country’s military-led government. Rescue teams continue to uncover more bodies, while thousands remain injured or missing. Official figures report 4,715 people injured and 341 still unaccounted for. However, with telecommunications down in many areas and rescue…
Billionaire entrepreneur Elon Musk is preparing to step away from his role in the U.S. government under President Donald Trump. According to Politico, which cited three sources close to the situation, Musk and Trump have mutually agreed that the Tesla and SpaceX CEO will soon return to his business ventures. Over the past few months,…
Japan is doubling down on its efforts to reclaim its position in the global semiconductor industry, announcing an additional $5.4 billion in funding for chip-making venture Rapidus. The latest investment, revealed by Japan’s industry ministry on Monday, brings total government support for the company to 1.7 trillion yen ($11.4 billion). Rapidus, a consortium backed by…
China’s National Offshore Oil Corporation (CNOOC) has made a significant discovery in the eastern South China Sea, unveiling a massive oilfield with proven reserves exceeding 100 million tonnes. The newly discovered Huizhou 19-6 oilfield is located approximately 170 kilometers (100 miles) from Shenzhen in Guangdong Province. According to state-owned Xinhua News Agency, test drilling at…
In a bold and uncompromising statement, U.S. President Donald Trump has threatened Iran with military action and economic sanctions if it fails to reach an agreement with Washington over its nuclear program. Speaking in a telephone interview with NBC News on Sunday, Trump confirmed that U.S. and Iranian officials were engaged in discussions but refrained…
